Canada will take 20 years to recoup Stellantis, Volkswagen subsidies -watchdog
-The Canadian government will take 20 years to recoup the combined C$28.2 billion subsidies it is offering Volkswagen and Stellantis-LG Electric Solutions to build two electric vehicle battery plants, the country's budgetary watchdog said on Tuesday.
Parliamentary Budget Officer Yves Giroux projected that the combined revenue generated from the two plants would only match the production subsidies by 2043, if production starts in 2024. The government subsidies are expected end by 2032. In May, Stellantis stopped constructing its EV battery plant in Windsor, Ontario, saying the Canadian government did not deliver on the committed subsidies. The dispute was resolved after two months of bargaining when the government agreed to provide subsidies similar to the one it gave Volkswagen.
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